1 August 2026
Philippine Stock Exchange To Become A Cryptocurrency Trading Podium
Amid the rising interest in cryptocurrency, the Philippine Stock Exchange (PSE) wants to be the podium for trading crypto assets.
Once the approval from the SEC and financial regulators is received, the PSE will kick-start the plan. It seems that the Philippine Stock Exchange has been waiting for this approval and preparing for it for a long time.
According to CEO Ramon Monzon and PSE President, the management discussed the idea of setting up a domestic crypto exchange two weeks ago. Monzon also disclosed that the PSE is awaiting guidelines from the Philippine Securities and Exchange Commission (SEC), which has begun seeking comments from banks, investors and the public in 2019 on whether the country should build a domestic crypto exchange.
The Country’s Government has historically been friendly toward digital assets. The Central Bank had already approved many crypto exchanges by issuing them the license to operate. Also, the citizens haven’t lagged in the cryptocurrency frenzy taking over the financial market. More and more people are demanding digital payments, and up to 10% of the total GDP comes from remittances.
Currently, the country’s economy is struggling to stay afloat, and many citizens are considering cryptocurrencies as a way out. Many people also play the “Axie Infinity” mobile games that reward winners in cryptocurrency to make extra income. As for crypto trading and its underlying risks, the Stock Exchange CEO believes it’s better to conduct it on a guarded platform. According to Monzon, the volatility of cryptocurrencies makes them more attractive, which is why trading should happen under the watch of the PSE.
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.
Explore related on CoinsCapture
Topics
Discussion
0 comments